The next GST council meeting on October 6th has its task cut out and it is time to address the gaps in the landmark Goods and Services Tax.
Exporters are complaining of blockages of working capital as refunds are getting delayed.
A finance ministry circular claiming 66 percent of exporters face no cash flow blockage offers no solace to a sector that contributes 20 percent to a slowing GDP and is staring at huge losses in the coming months if refunds do not start coming in.
The functioning of the GST portal is also a major challenge -- issues with the GSTN continue to plague businesses trying to file returns. The Finance Minister has set up a panel to look into the GSTN and has also said that he is open to simplifying the tax regime and reduce compliance burden on the small taxpayer.
CNBC-TV18's Shereen Bhan caught up with Mauvin Godinho, GST Council Member and Panchayat Minister of Goa, Najib Shah, Former Chairman of CBEC, Ajay Sahai Director General & CEO of FIEO and Bipin Sapra, Partner at EY to find whether these moves are enough to calm the nerves of the lakhs of taxpayers who are running short of cash to run their business?Watch video for more….